New York, Feb 1, 2026, 09:27 (EST) — Market closed.
- GameStop shares climbed roughly 5% on Friday, closing at $23.88.
- CEO Ryan Cohen’s rare interview reignited speculation about a major acquisition.
- Traders are focused on the timing, filings, and details surrounding the shareholder vote on Cohen’s performance award.
GameStop Corp (GME) shares closed Friday roughly 5% higher at $23.88. The boost came after CEO Ryan Cohen highlighted a major acquisition, fueling interest as the stock heads into Monday’s session.
U.S. markets are closed for the weekend, leaving investors focused less on price action and more on follow-through. They’re after details — what exactly, when it happens, and how it will be funded — but Friday’s trading offered no answers.
Cohen told the Wall Street Journal he aims to turn the company into a $100 billion-plus powerhouse by acquiring a publicly traded firm, dubbing the move “either going to be genius or totally, totally foolish,” Fortune reported. Analyst Michael Pachter of Wedbush Securities pegged GameStop’s chances of hitting $100 billion at just “higher than 0.001%,” adding he’d bet against it. Fortune
GameStop remains a “meme stock,” popular with retail traders and prone to wild swings driven by online buzz as much as by earnings reports. Back in January 2021, its shares skyrocketed over 1,600% during a short squeeze, when investors betting on a drop scrambled to cover their positions, sending prices soaring. Reuters
Friday’s action underscored just how fast the stock shifts at the hint of fresh developments. Yet, an interview isn’t a deal, and no weekend buzz has nailed down a target name.
On Jan. 7, GameStop revealed its board granted Ryan Cohen a performance-based stock option award tied to ambitious targets. Cohen won’t receive any payout unless those targets are met. The award includes options for 171,537,327 shares at $20.66 each and awaits shareholder approval at a special meeting set for March or April 2026, the company said.
The situation forces investors to focus on GameStop’s cash management rather than store visits. Reuters reported in January that the company is slashing expenses as its physical stores face pressure from gamers moving online. The compensation plan demands a major pivot to meet its goals.
The weekend opens up space for speculation, often driving volatile swings in this stock. Some traders see Friday’s action as a clear indicator, while others dismiss it as noise and quickly fade those moves.
But once you get to a big acquisition, the easy talk stops. Going after a public company means dealing with shareholder votes, regulatory hurdles, and financing options that could dilute existing owners. Plus, any misstep in paying too much or botching integration would hit a retailer already wrestling with a shrinking core business.
This week, investors will be looking closely at company updates and any filings with the U.S. Securities and Exchange Commission that provide fresh details or shift the timeline. The key date remains the special meeting slated for March or April. Monday’s session will test if Friday’s surge can stick after the weekend news quiets down.
